AUDUSD - Price Action - H1 opportunity to follow D1. RR>20
On D1, there is a break of structure to the downside so D1 is -
We plot the S/R on D1 and wait for price to breakdown and retest this level. Which happened on 6th Feb 9am GTC +4.
Now we plot H4 S/R and wait for a retest of the 1st level at 0.6507. Price is on the way to reach this level. Enter after a confirmation, which could be a acceleration on m3 (supply zone, or 1.5ATR body) or a rejection / acceleration.
From this H4 Resistance at 0.6507, we have multiple re-entries possible, if price breaks and retest 0.6504, 0.6495, and 0.6491.
Keep in mind target on this D1 game is the next D1 S/R at 0.6441, which gives an great reward of 20X (20$ profit for 1$ risk). And that is just for entry 1. SL is set at 0.6513/ TP at 0.6441. Entry 2 at 0.65045 and entry 3 at 0.6495 offers an even bigger reward!
We plot the S/R on D1 and wait for price to breakdown and retest this level. Which happened on 6th Feb 9am GTC +4.
Now we plot H4 S/R and wait for a retest of the 1st level at 0.6507. Price is on the way to reach this level. Enter after a confirmation, which could be a acceleration on m3 (supply zone, or 1.5ATR body) or a rejection / acceleration.
From this H4 Resistance at 0.6507, we have multiple re-entries possible, if price breaks and retest 0.6504, 0.6495, and 0.6491.
Keep in mind target on this D1 game is the next D1 S/R at 0.6441, which gives an great reward of 20X (20$ profit for 1$ risk). And that is just for entry 1. SL is set at 0.6513/ TP at 0.6441. Entry 2 at 0.65045 and entry 3 at 0.6495 offers an even bigger reward!